Suzlon Energy may come down to Rs 23-24, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "Since we are in some kind of an uptrend I wouldn't actually go short in Suzlon Energy. But the trade in Suzlon now is to sell it because it could easily slide down to support levels of Rs 23-24. That's a very good 20% from current levels on the down side. So there are two ways; first please don't buy it now, its correction has just started and it can continue for sometime and aggressive traders can take short positions if they understand the trade."
The company touched its 52-week high Rs 58.45 and 52-week low Rs 17.25 on 21 Apr, 2011 and 02 Jan, 2012, respectively. Currently, it is trading -51.07% below its 52-week high and 65.8% above its 52-week low. Market capitalisation stands at Rs 5,083.27 crore.
